Resonant Consulting

Technology companies across Canada regularly perform work which qualifies for funding from the $4 Billion per year SR&ED program. Bleeding edge technological advancement is not required. Much of what your company might consider ‘routine development’ is actually eligible.

While SR&ED eligibility is not limited to the information technology sector (development in other sectors, such as GreenTech, Medical, Manufacturing, and Telecom is also eligible), frequently IT companies see the greatest portion of their work eligible for SR&ED credits. It is not uncommon for an IT company to receive an annual refund cheque equal to 30-50% of their entire development operating budget.

IT companies performing the following types of work in Canada are elligible for significant funding from the SR&ED program:

• development of new software products
• integration of sub-components into a system
• the porting or retrofitting of legacy software
• New Media development
• development of software as services
• web development
• Search Engine Optimization and web analytics
• development of device drivers or firmware
• hardware development
• etc…

As you can see, nearly every type of development can qualify for SR&ED funding. Whether you build video games, websites, corporate data reports engines, or iPhone apps, you are doing work for which Canada is paying you.

Many incorrectly assume that they won’t qualify for a refund due to some common SR&ED Myths. Don’t be fooled into thinking that your work won’t qualify, that the rewards aren’t worth the effort, or that your lack of taxes owing will prevent you from getting a sizable refund cheque each year.

Even if you do choose to file, doing so yourself can be a lengthy and complicated process where your best technical resources are tied up in acquiring the refund you’ve already earned. Quite often, those who do file for themselves have trouble understanding the nuances of the tax law, and wind up significantly underestimating the portion of their work that is eligible.

With The Resonant Advantage, you can stay focused on growing your business while our SR&ED experts maximize your refund. As a bonus, first time filers can retroactively file for the previous year’s SR&ED and get two cheques their first year. There is a deadline to file before the SR&ED credits you’ve earned permanently expire, so contact us today to get started!